• Shiba Inu breaks key support as bearish trend raises threat of a 28% price decline
• MACD and RSI indicators suggest weak momentum but hint at potential short-term recovery
• SHIB’s daily burn rate drops 63%, threatening deflation progress and long-term supply goals

Shiba Inu (SHIB) is once again in the spotlight, but not for the reasons many investors might hope. After forming a bearish technical pattern on the daily chart, SHIB has broken below a critical support level, triggering concerns about a potential 28% decline. 

Despite a noticeable surge in trading activity, the token is showing signs of weakening momentum, raising red flags for short-term holders. The recent price drop comes at a time when overall market sentiment remains uncertain, adding pressure to already shaky technicals.

SHIB as of press time is priced at $0.00001257, showing a 2.90% dip in the last 24 hours. The trading volume, however, soared by over 88%, suggesting heightened interest despite the decline. This spike in volume could mean a tug-of-war between bulls trying to buy the dip and bears reinforcing the downward pressure. Notably, the token formed a local bottom and started recov…

The post Shiba Inu Price Signals 28% Crash After Bearish Pattern Breaks appeared first on Coin Edition.

• Shiba Inu breaks key support as bearish trend raises threat of a 28% price decline
• MACD and RSI indicators suggest weak momentum but hint at potential short-term recovery
• SHIB’s daily burn rate drops 63%, threatening deflation progress and long-term supply goals

Shiba Inu (SHIB) is once again in the spotlight, but not for the reasons many investors might hope. After forming a bearish technical pattern on the daily chart, SHIB has broken below a critical support level, triggering concerns about a potential 28% decline. 

Despite a noticeable surge in trading activity, the token is showing signs of weakening momentum, raising red flags for short-term holders. The recent price drop comes at a time when overall market sentiment remains uncertain, adding pressure to already shaky technicals.

SHIB as of press time is priced at $0.00001257, showing a 2.90% dip in the last 24 hours. The trading volume, however, soared by over 88%, suggesting heightened interest despite the decline. This spike in volume could mean a tug-of-war between bulls trying to buy the dip and bears reinforcing the downward pressure. Notably, the token formed a local bottom and started recov…

The post Shiba Inu Price Signals 28% Crash After Bearish Pattern Breaks appeared first on Coin Edition.